Skip to comments.PERSONAL INCOME DROPS 3.2% SINCE OBAMA... DEVELOPING...
Posted on 04/12/2010 3:35:10 PM PDT by library user
PERSONAL INCOME DROPS 3.2% SINCE OBAMA... DEVELOPING...
Just a headline for now.
In a related story, taxes took an unexpected rise today ...
Wife and I are off about $170,000 2009 vs 2008. Only satisfaction is that we paid less in taxes. 2010 is looking to be as bad or worse than 209. If there are a lot of folks like us then the Fed Gov. is in for a world of hurt.
and prices are rising.
Just wait until the “Bush” tax cuts are allowed to expire at the end of this year, then look at your paycheck.
Don’t forget the price of gas is still up and spiking toward $4.00 a gallon just in time for July 4th, FOFLOL, but the Obie administration says the cost of living hasn’t gone up.
No kidding! All of us self employed people know that we would be thrilled if it were only 3.2 percent.
Obama is like kryptonite to free eneterprise small business and the economy.
In a truly sick way, I think there are many people in Washington thrilled that you are making less money. They are so far removed from how we wage earners bring in the bucks for their social programs that they spit on us and hope we fail.
Actually it is the retirement and pensions - paying them not to work that is the killer. Kinda like Greece wanting all the EU to pay for its unions retirement.
My personal observation is that the decline in personal income began in the mid nineties. About the same time income disparities between the wealthy and the working class started to quickly grow. When the argued NAFTA would make “us” more wealthy they left most of us out of “us”. What did you think would happen when a factory closes down leaving many well paid hard working Americans unemployed, one is the very wealthy shareholders made a few more bucks per share. Another outcome is that ceo’s ,cfo’s and other officers in companies received greater bonus’. Workers found less opportunity and lower wages.Did they expect all blue collar workers to go to college to be accountants ,lawyers, and brokers? The last 15 years has been a consolidation of wealth, that’s all.
Excuse me, I suggest:
Yup. 2006 2007 I was fine. Once maobama got the nomoination it was like everything stopped on a dime.
The worst part is that my fiance does dot understand this and it puts a lot of stress on our relationship since we were planning on marriage a house etc.
Our income has dropped 75% (hubby working as many temp jobs as he can and I am in school as it’s the only alternative right now. We are currently looking to move even though we have traveled quite a ways outside our state looking for work) and property taxes went up double this year.
I'm hanging by a thread.
The latest data show 22.1 million immigrants holding jobs in the U.S. with an estimated 7 million being illegal aliens. By increasing the supply of labor between 1980 and 2000, immigration reduced the average annual earnings of native-born men by an estimated $1,700 or roughly 4 percent. Among natives without a high school education, who roughly correspond to the poorest tenth of the workforce, the estimated impact was even larger, reducing their wages by 7.4 percent. The reduction in earnings occurs regardless of whether the immigrants are legal or illegal, permanent or temporary. It is the presence of additional workers that reduces wages, not their legal status.
3% across the board cut at my husband’s place of employment last year...so this jibes with our experience.
Yes, but 90's were a unique time, with the tech boom already under way and Y2K yet to come. If you were a web developer when everyone went to online commerce, or a COBOL programmer when Y2K started, you could name your salary.
But it wasn't going to last, and it didn't. Once all of the servers were in place, the online commerce sites were up and running, and older mainframes knew the difference between 1900 and 2000, many of the developers were no longer needed. The laws of supply and demand went in favor of the employers, and that, as they say, was that.
But it was fun while it lasted.
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